GAO: “No Opinion” on U.S. Financial Audit
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#1 Jan 22, 2013
The national debt is comprised of debt held by the public and intragovernmental holdings. Intragovernmental holdings are debts the federal government owes to itself, a phenomenon only possible within the realm of the criminally insane. For example, as of the end of FY 2012, the Treasury has borrowed a total of $2.7 trillion from the Social Security Administration (its entire Trust Fund), and more recently from federal employee pension funds in order to meet its unmanageable over-inflated obligations. The total debt outstanding has grown from $5.7 trillion at the end of fiscal year 2000 to $16.4 trillion as of January 17, 2013. Included within this figure, intragovernmental debt has grown from $2.3 trillion at the end of fiscal year 2000 to $4.9 trillion as of January 17, 2013 (see table below).
#2 Jan 22, 2013
[img]http://2.bp.blogspot.com/ -Jqt6TFN4JT0/UPt3TM2N-MI/AAAAA AAAE9s/aZHBCYEzlVw/s1600/Debt+ to+the+Penny.JPG[/img]
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